Before I begin, please know that I welcome and love all buyers. Also, below not meant to be gender specific, just easier to read.
I find it so interesting that during a multi-million dollar negotiation, a lifestyle Buyer (opposed to an investment Buyer) and a Seller will draw a line in the sand when they are within low single digit percentages of each others’ prices and not be willing to bridge the gap (believe it or not, I see this all the time). The Buyer’s position baffles me more than the Seller’s because the Seller could 1) be somewhat indifferent about selling (you pay my price, I’ll sell) or 2) need a certain net number or the sale is not worth it for him. The Buyer on the other hand is looking at the property as a lifestyle property for her that she will use and enjoy for years to come. So, the Buyer thinks she is maybe overpaying 2-5% now? Is that really significant over the long-run? Is that really worth her torturing herself with having to find a rental that meets her needs for the next season when she has the right property lined up to buy? I don’t think so, but then again, the buyers have the money for a reason…